Kailua Home in Excellent Condition with Enchanted Lake Water Access

I recently had the opportunity to preview Cathy Matthews’ new listing at 409 Keolu Dr. in Kailua. The property is listed for $785,000 – below the average price for a Kailua single-family home.

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View from Keolu Drive (MLS# 201326583)

This property is quite unique for the area. The home was built in 1998, so it is much newer than the average Kailua home. The construction and condition appear modern and attractive. The home has 3 bedrooms and 2.5 bathrooms, all more generous in size than average for the area. The photovoltaic system has already been installed, so you can figure $200-300 less per month in utility bills for this home.

Add Value & Personality Quickly Through Small Home Improvements

The finishes in the home are basic, but that’s a positive feature for a buyer – an opportunity to add value quickly. Do some light remodeling of fixtures and finishes, and you can have a stunning home without structural work or heavy renovation. It is an excellent basis to improve upon – a rarity in Kailua’s aging stock of homes.

Another way to add a tremendous amount of value to this home could be for the new owner to build an attractive lava rock wall and landscape around the property boundary bordering Keolu Dr. Doing so would create a private and tropical outdoor living space, which would more than double the useful main floor square footage.*

Water Access

409 Keolu Dr. also has “Water Access.” No, it’s not ocean side. I’m talking about the other waterfront, the Enchanted Lake and canal system. By membership in the Enchanted Lake Residents Association, the owners are some of the few in Kailua able to use the lake for kayaking, paddleboarding, or boating.

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View of the lake

It’s about a 15 minute paddle down to Kailua Beach Park from the home, and from there you can paddle out to Flat Island, the Mokes, and beyond.

Contact a Kailua Neighborhood Specialist

Overall, I feel this one is a great bargain and it should sell quickly. Contact me if you’d like to see it in person.

*The author makes no representations about the permit or approval process to build a wall as described.

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